INTELLIGENT BRANDS // Software for Business
First Independence Bank selects suite of Finastra solutions to grow its retail business
Detroit-area bank will appeal to a younger customer base through the implementation of Finastra ’ s Fusion Phoenix core , Fusion Digital Banking and other solutions
Finastra announced that First
Independence Bank has selected its
Fusion Phoenix core , Fusion Digital Banking , Fusion DepositPro and Fusion TotalTransact , as well as a number of other solutions , in order to provide its customers with a robust and fully digital banking experience . As a Community Development Financial Institution ( CDFI ), committed to serving its local community , the bank will realize operational efficiencies through a more streamlined service , and better serve its customers with modern banking services .
“ First Independence Bank has been an integral part of the Detroit community for 50 years , with an affinity for supporting our under-served and minority populations ,” said Elizabeth A . Zuchelkowski VP , Chief Financial Officer , First Independence Bank . “ As Detroit continues to undergo a true renaissance , we recognize the need to offer modern banking services to appeal to an evolving demographic that is shifting increasingly younger . By offering our account holders a single , seamless , and easy-to-use banking experience we will better serve our existing customer base while appealing to that more technologically-driven demographic .”
Beyond the importance of the digital channel , which was magnified when the pandemic hit , First Independence Bank recognized that it was being restricted by its legacy core and was looking to transform . Fusion Phoenix stood out from other solutions in the market for being built on Microsoft technology , resulting in an intuitive user interface and easy access to data and reports . An integrated CRM will empower the bank as it expands its business and will help to deepen existing customer relationships . Additionally , because the core will reside in the Microsoft Azure cloud , the bank will be able to scale efficiently as it grows and improve time-to-market with new products and offerings .
“ Finastra believes that financial institutions and technology vendors have a responsibility to redefine finance for good , and we are always excited to work with banks that share our passion ,” said Chris Zingo , SVP and GM of Americas Field
Operations , Finastra . “ First Independence Bank had a clear vision for the type of service it needed to provide in order to exceed the expectations of its customers and best serve its local community .
“ We were able to work closely to help make this vision a reality by creating a suite of solutions – from core and digital to account opening , bill payment and more – to deliver a flexible , robust and fully integrated set of banking capabilities . This not only met the bank ’ s specific needs and budget requirements , but it also promises to drive a strong return on investment and an enhanced customer experience .” •
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